Business News | OpenAI Launches Finance-focused ChatGPT with Datasets and Enterprise Controls
Get latest articles and stories on Business at LatestLY. OpenAI has launched a finance-focused version of ChatGPT designed for financial institutions, bringing premium financial datasets, financial modelling tools and enterprise security controls into a single platform.
Washington DC [US], September 11 (ANI): OpenAI has launched a finance-focused version of ChatGPT designed for financial institutions, bringing premium financial datasets, financial modelling tools and enterprise security controls into a single platform.
Called ChatGPT for Financial Services, the product is initially focused on investment banking and equity research. OpenAI said its work with financial institutions including Morgan Stanley and Evercore helped identify the biggest challenges faced by their teams.
“Reliable access to data and high quality artifact creation proved to be the biggest pain points for their teams,” OpenAI said, adding that its work with partners will help shape further product improvements and expansion into other financial services categories.
A key feature of the new product is built-in access to financial datasets from Daloopa, PitchBook, LSEG News and Crunchbase. These datasets cover earnings transcripts, financial statements, company fundamentals, private companies and other financial information.
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OpenAI said teams can start using the datasets without negotiating separate contracts or setting up individual connectors. The company will index and host the data on its infrastructure to improve retrieval and latency and provide more detailed citations.
“Data is the foundation of all financial analysis,” OpenAI said, highlighting the importance of reliable financial information for research and decision-making.
The company said the built-in data will allow financial professionals to trace figures and claims back to their sources while developing their analysis.
For example, OpenAI said a banker conducting a P&L normalisation analysis could inspect the reconciliation and notes behind an adjusted EBITDA figure, understand which costs were excluded and then decide how the figure should be used in a valuation.
The platform also provides access to OpenAI's latest frontier intelligence and will continue to make newer models available as they are released.
OpenAI is also focusing on how financial teams convert analysis into final work. Administrators can publish Excel, Word and PowerPoint templates through a dedicated admin page. With firm templates and style guides, teams can create valuation models, research notes and pitchbooks in their organisation's format.
On security, OpenAI said protecting material non-public information and client confidentiality is critical for financial institutions. The product builds on ChatGPT Enterprise controls including SAML SSO, SCIM provisioning and role-based access controls.
“Your firm's business data is not used to train our models by default,” OpenAI said. The company added that data is encrypted at rest and in transit, while administrators can configure workspace retention.
Financial institutions can also manage access to skills and applications by role, enable or disable supported actions, and create multiple workspaces to enforce information barriers.
OpenAI said ChatGPT for Financial Services is available to eligible financial institutions. (ANI)
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